Saving account
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HSAs have a “triple” tax advantage from a federal tax standpoint. Individuals receive full tax advantages for HSAs on their Federal Income Tax return (or through a salary reduction program in certain employer-sponsored settings) regardless of particular state’s tax treatment of HSAs.
An account beneficiary may take an above-the-line deduction (i.e. the amounts may be […]
Written by mellow on October 28th, 2006 with comments disabled.
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Choosing the right bank accounts can be a difficult task… after all, you’re making major decisions that can directly affect your finances. Unfortunately, there isn’t a catch-all way to look at choosing different types of bank accounts… chequeing and savings accounts have different considerations and should be looked at from different viewpoints before making your […]
Written by mellow on October 25th, 2006 with comments disabled.
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Have you ever had an overdraft cheque? It can be a major inconvenience, especially if the overdraft was only by a small amount. To help consumers to avoid the problem of minor overdrafts, a number of banks offer a link between chequeing accounts and savings accounts… this allows the cheque to be processed using additional […]
Written by mellow on October 23rd, 2006 with comments disabled.
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Jenny Thomas heaved a sigh of relief. A month ago she checked into her local hospital to deliver her first child, but unanticipated complications necessitated an emergency surgery. Fortunately both she and the baby were fine. But if it hadn’t been for her family’s health savings account (HSA), she could have ended up owing the […]
Written by mellow on October 21st, 2006 with comments disabled.
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Exploring the Health Savings Account; is it right for you?
The healthcare insurance marketplace, working with the federal government, has recently begun to offer an alternative to traditional health insurance. This new option, known as the Health Savings Account, is designed to give consumers more control and accountability for their health care spending and to […]
Written by mellow on October 18th, 2006 with comments disabled.
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Savings accounts are one of the most common types of bank accounts available today. In addition to chequeing accounts, they make up a very significant portion of any bank’s business. With that amount of competition, different banks may offer different account features in an attempt to lure in the business of people who are looking […]
Written by mellow on October 15th, 2006 with comments disabled.
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I used to wonder how my coworkers could afford the latest and greatest fashions. Despite the fact that we all took home the same meager salary, they walked in the door every week with a new outfit. I walked in the door with the same sloppy jeans and sweater. It took a few […]
Written by mellow on October 12th, 2006 with comments disabled.
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Most people with health insurance, especially employer paid health insurance, really dont know what their health care costs are. Furthermore, in many cases, they are limited in which health providers (doctors, hospitals, pharmacies etc) they can use.
Most people are locked into a network of doctors. They know what the co-pay is, but have […]
Written by mellow on October 10th, 2006 with comments disabled.
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Medical Savings Accounts (MSAs) are promoted as the salvation of small businesses in desperate need of affordable health insurance plans. Forbes called MSAs “Super-IRAs” and Business Week wrote “almost too good to be true”. Kiplingers Personal Finance Magazine said if you are self-employed, you should jump at the chance to open an MSA. […]
Written by mellow on October 8th, 2006 with comments disabled.
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Health Savings Accounts HSAs The Who, What, Where, When and Why on HSAs.
What is an HSA?
Health Savings Accounts - HSA’s are accounts owned by the individual that allow money to be deposited into a tax-deferred account to pay for current and future medical expenses. They are similar to an […]
Written by mellow on October 5th, 2006 with comments disabled.
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